Remaking Final Fantasy VII Would Effectively Be Printing Money.

Speaking with VideoGamer.com, Kitase said:
[quote]
"As for a VII remake, all I can advise right now is to play the PSN release that just came out for the time being. Maybe, perhaps we'll have some news for you at a later time."

"I'm actually working on multiple projects right now," said Kitase. "I don't know exactly what new projects I'll be taking on after XIII, but I am working on Agito XIII as well, so maybe I'll be able to focus a little bit more on that project once XIII is complete."</blockquote>

So a remake is probably not in the works just now. But it certainly sounds like it's planned. We could wish, right?